1.   Thus the implied futures rate is In this case we get as required.

2.   In this case the implied futures rate is so that again as required.

3.   We will assume for simplicity that the expectations hypothesis holds, so that there is no risk premium in the futures rate.

4.   Futures rates shot up last week after Communications Minister Sergio Motta was linked in press reports to a congressional vote-buying scandal.

5.   Libor is the basis for Eurodollar futures rates.

6.   Now, even as the Korean won and Thai baht fall to record lows, futures rates fell for the second day.